IDEX Co. (NYSE:IEX) Stake Reduced by Quadrature Capital Ltd

Quadrature Capital Ltd cut its stake in IDEX Co. (NYSE:IEX – Get Rating) by 86.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,844 shares of the industrial products company’s stock after selling 17,725 shares during the period. Quadrature Capital Ltd’s holdings in IDEX were worth $569,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Parkside Financial Bank & Trust increased its position in IDEX by 120.3% in the 1st quarter. Parkside Financial Bank & Trust now owns 141 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 77 shares during the period. Allworth Financial LP grew its stake in shares of IDEX by 491.2% in the third quarter. Allworth Financial LP now owns 201 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 167 shares in the last quarter. SeaCrest Wealth Management LLC acquired a new position in shares of IDEX during the second quarter valued at $49,000. Newfound Research LLC bought a new stake in shares of IDEX during the third quarter valued at about $59,000. Finally, IFP Advisors Inc lifted its holdings in IDEX by 1,277.1% in the third quarter. IFP Advisors Inc now owns 482 shares of the industrial products company’s stock worth $70,000 after purchasing an additional 447 shares during the period. 96.58% of the stock is currently owned by institutional investors.

Get IDEX alerts:

IDEX Trading Down 1.4 %

NYSE IEX opened at $219.93 on Friday. The firm’s 50 day moving average price is $229.03 and its two-hundred day moving average price is $221.85. The stock has a market cap of $16.61 billion, a price-to-earnings ratio of 28.53, a PEG ratio of 2.16 and a beta of 0.99. IDEX Co. has a twelve month low of $172.18 and a twelve month high of $246.23. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.71 and a current ratio of 2.57.

IDEX (NYSE:IEX – Get Rating) last posted its quarterly earnings results on Wednesday, February 1st. The industrial products company reported $2.01 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.03. IDEX had a return on equity of 21.44% and a net margin of 18.44%. The firm had revenue of $810.70 million for the quarter, compared to analyst estimates of $772.75 million. During the same period in the previous year, the firm earned $1.55 earnings per share. IDEX’s quarterly revenue was up 13.4% on a year-over-year basis. Equities analysts anticipate that IDEX Co. will post 8.61 EPS for the current year.

Insider Transactions at IDEX

In other IDEX news, CFO William K. Grogan sold 3,181 shares of the company’s stock in a transaction that occurred on Thursday, February 9th. The shares were sold at an average price of $226.36, for a total value of $720,051.16. Following the transaction, the chief financial officer now owns 13,864 shares in the company, valued at approximately $3,138,255.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on IEX. Stifel Nicolaus boosted their price target on shares of IDEX from $241.00 to $242.00 and gave the stock a “hold” rating in a research report on Friday, January 20th. Mizuho increased their price target on IDEX from $225.00 to $227.00 and gave the company a “neutral” rating in a research note on Thursday, February 2nd. DA Davidson boosted their price objective on IDEX from $220.00 to $225.00 in a research note on Tuesday, November 22nd. Citigroup decreased their target price on IDEX from $273.00 to $268.00 and set a “buy” rating for the company in a research note on Thursday, February 2nd. Finally, Robert W. Baird raised their price objective on shares of IDEX from $227.00 to $255.00 and gave the company an “outperform” rating in a research report on Thursday, February 2nd. Six analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $239.91.

IDEX Profile

(Get Rating)

IDEX Corp. engages in the provision of engineering solutions. It operates through the following segments: Fluid and Metering Technologies, Health and Science Technologies, and Fire and Safety or Diversified Products. The Fluid and Metering Technologies segment is involved in the design, production, and distribution of displacement pumps, valves, flow meters, injectors, and fluid-handling pump modules and systems.

See Also

• Get a free copy of the StockNews.com research report on IDEX (IEX)
• What the SVB Financial Collapse Means for U.S. Banks
• MarketBeat Week in Review – 3/6 – 3/10
• 2 Offshore Drilling Stocks Set to Extract Big Profits
• Three Staples Stocks With Double-Digit Upside Ahead
• Can Investors Trust Consumers to Lift American Outdoor Brands?

Want to see what other hedge funds are holding IEX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for IDEX Co. (NYSE:IEX – Get Rating).

Receive News & Ratings for IDEX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IDEX and related companies with MarketBeat.com's FREE daily email newsletter.